Rahul Gandhi Promises Three-Year Tax Holiday For Entrepreneurs

Rahul Gandhi Promises Three-Year Tax Holiday For Entrepreneurs

  • Slamming the "hollow" promises of the NDA government, Congress president Rahul Gandhi on Sunday said his party, if elected to power, would allow anyone to start a business without permits or clearances and offer a tax holiday for the first three years.
  • Terming Karnataka as India's start-up hub, Mr Gandhi told the gathering that his party's manifesto also promised to provide incentives, tax credits and easy bank loans based on how many jobs an entrepreneur or a company create.
  • Angel tax is levied on premium paid on investments in startups and unlisted firms to curb "laundering" under the Income Tax Act, as their valuations increase despite stagnant or declining revenues.
  • Accusing Prime Minister Narendra Modi of taking money of the ordinary citizens by making them stand in queues for days during demonetization in November 2016, the Congress chief said the party's revolutionary Nyay scheme would remonetize India, by crediting in the bank accounts of 25 crore people Rs 6,000 per month or Rs 72,000 per year for 5 years.


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